Four-year fuel price records broken in Brisbane

Brisbane drivers have been punished at the hip pocket once again as RACQ revealed the city had reached a four-year petrol price high.

At 162 cents per litre (cpl), the River City had recorded its highest daily average since July 2014.

RACQ spokesperson Lucinda Ross said in the past few days, 90 percent of Brisbane service stations had hiked their unleaded petrol (ULP) prices to 160cpl or more.

“Across the city, we’ve seen prices skyrocket in recent days with the average now sitting at above 160cpl for the first time in four years – there are some servos even selling fuel for an outrageous 166cpl,” Ms Ross said.

“Brisbane drivers are already paying more for fuel than motorists in most of the other large Australian capitals and this is just another blow to the hip pocket.”

Ms Ross said although global oil prices had increased in recent months, there was no justification for prices to be hiked to the levels that had been seen.

“As drivers, we have no control over the global price of oil,” she said.

“But what’s really frustrating is Brisbane fuel company margins are higher than the other large capitals in Australia. That’s why we keep calling on drivers to shun the retailers charging the highest prices, and support the cheapest servo in their area.”

Ms Ross said the real time fuel price data trial, which would come into effect from December, would help drivers shop around and avoid some of the worst offending fuel retailers.

“Once again, this hike has been led by the major fuel companies, BP, Coles, Caltex and Woolworths, who’re all too often the first to hike, and lift their prices to the highest levels,” she said.

“We know there’s often a 20 to 30cpl difference between the top and bottom of the Brisbane market at any time, so, while the availability of real time petrol price data isn’t going to be a silver bullet in bringing down prices, it’ll help drivers identify the lowest price in their area and save money.”